Wealth Enhancement Advisory Services LLC Acquires 58,673 Shares of Stryker Co. (NYSE:SYK)

Wealth Enhancement Advisory Services LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 78.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,020 shares of the medical technology company’s stock after purchasing an additional 58,673 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Stryker were worth $45,260,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares during the last quarter. Greenleaf Trust boosted its position in Stryker by 0.6% during the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after purchasing an additional 108,080 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after purchasing an additional 29,209 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several analyst reports. Needham & Company LLC raised their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research decreased their price objective on shares of Stryker from $372.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Truist Financial reduced their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Barclays upped their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $373.11.

Insider Buying and Selling

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

Stryker stock traded up $1.70 during midday trading on Wednesday, hitting $330.69. The company’s stock had a trading volume of 138,002 shares, compared to its average volume of 1,317,619. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market cap of $126.02 billion, a price-to-earnings ratio of 37.56, a PEG ratio of 2.53 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a 50-day moving average price of $336.62 and a two-hundred day moving average price of $340.53.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.54 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.